Canadians are struggling financially and emotionally. Those who earn less than $75,000pa and accessed the government benefits, won’t be charged interest by the CRA on tax amounts owing until 2022.
Taxpayers will be hit with a 5 percent penalty on late filing, even if they can’t get reliable internet connection or file documents to their accountants in person.
Due to the pandemic, this year’s tax form is more complicated with additional boxes for specific periods throughout the pandemic. Canadians are struggling through the third wave of the pandemic, hence demanding flexibility when it comes to the CRA deadlines, asking to be relieved from penalty and have requested extra time.
Unfortunately, the federal government has not announced an extension or general relief. The CRA says it’s important for Canadians to file on time – to prove they’re still eligible for future pandemic-relief benefits. The CRA has acknowledged the challenges that Canadians may face when filing their obligations this year, but points out that it needs 2019-2020 tax information to determine eligibility for all of Canada’s assistance packages.